Saturday, Sep 27, 2008
The birth of Sub-prime?
The New York TImes: Fannie Mae Eases Credit To Aid Mortgage Lending
The article from 1999 provides a historic insight into the birth of sub-prime and the seed of a large proportion of the current financial mess experienced today.
Hindsight is a wonderful thing but I do believe that alarm bells would and should have started ringing in the head of any individual reading this back in 1999, let alone those "professionals" in the financial World.
Posted by denzil @ 10:43 AM (295 views) Add Comment
1 Comment
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1. Landedgentry said...
"Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. "
Great find denzil, thanks.